At today's meeting of the Parliamentary Committee on Economic Policy, Enterprise and Industry the bill On Licenses and Permits was discussed.
According to Deputy Minister of Economy and Industry of Azerbaijan, Sahib Mammadov, one of the objectives of the innovations is the reduction of the period for issuing licenses from 15 to 10 days, and permits - to 7 days. "There already exists legal framework to regulate licensing, and now it is the turn of permissions. Besides simplification of this procedure, it also provides for reduction of terms of issuing licenses and permits, implementation of the principle of "single window", etc. For example, in the case of adoption of the law, if the owner appeals to the relevant authorities for a license, but does not receive a response within a certain time period, the resolution can be entered automatically," said the official.
Recall, in Azerbaijan, licenses are issued by 23 state authorities on 59 types of business activities. --- 17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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